On April 1, SeaWorld Will Furlough 90% of Employees Indefinitely
Theme park company SeaWorld Entertainment (NYSE: SEAS), famous for its dolphin and orca displays, announced that it means to furlough 90% of its employees on April 1 for an indefinite period. The furlough comes after SeaWorld closed all of its parks in response to the rapid spread of COVID-19 in the U.S. during March. After getting a last few days of pay, the workers will receive no wages or salaries for the duration of the shutdown.
The news came on Friday, March 27, in a current report filed with the Securities and Exchange Commission (SEC). The furlough affects a workforce consisting of 12,000 part-time workers and 4,700 full-timers. SeaWorld noted that these workers are eligible to apply for unemployment benefits while awaiting the parks' reopening.
Image source: SeaWorld Entertainment.
Source Fool.com
